Crypto exchange

[Mandy96]

Is there any profit in the business of crypto exchange what I mean by crypto exchange is the exchange of cryptocurrencies for example, when you exchange Bitcoin to litecoin is the rate the same or it is different because if so then there should be a profit to be made in the sense that one can make some money just like foreign exchange (forex) business because as far as I know profit is made from forex business because of the exchange rate, if the exchange rate of all currencies are the same then there will not be any profit made from it and people will not even see it as a business opportunity. So I really need to know if the exchange rate of cryptocurrencies are different from each other. For example, is the exchange rate of Bitcoin different from the exchange rate of any other cryptocurrencies? And if so, i hope the exchange rate charges of the cryptocurrencies will not affect the profit that is supposed to made from the transaction.

 

[Chibson]

I definitely understand what you're talking about. if you want to trade cryptocurrency then you have to use either a decentralized exchange or a centralised exchange but the exchange rate is always the same. That is the reason why we always use the usdt or busd whenever we are making a trade because they are stable. This may differ from currency to currency but the usdt is equal to $1.

 

[Mandy96]

yes I think I know about usdt but I do not know how to use it to trade with Bitcoin make the profit from the exchange rate. Please do you have any idea on how to go about it. I am really interested in the business but I really don’t know much about the exchange rates and the charges.

 

[Sotherefore]

There are a lot of ways you can make money with cryptocurrency, you can make money with cryptocurrency by trading cryptocurrency or by holding a particular coin for long term to generate profit. That is what I can understand about cryptocurrency because I don't really understand what you have stated above.